> Daily news > Alfa-Banks assets plunge 15%

Alfa-Banks assets plunge 15%

25.09.2009. : public
Alfa-Bank Groups performance was a bit worse in the first half of 2009 than before. The groups total assets, for instance, plunged by 15% (from $27.1bn down to $23bn).

The groups financial report, drawn up in accordance with the IAS, was published a few days ago.

According to this report, the decrease in the asset value had to do with the ongoing economic recession that has been affecting the banks lending portfolio and the borrowers paying capacity.

The groups total lending portfolio had shrunk by 20.2% down to $15.3bn by June 30, 2009 against December 31, 2008.